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Question for You: What Habits Most Affect Your Money?

Question for You: What Habits Most Affect Your Money?

As I've mentioned many times before, I’m hard at work on a book about how we make and break habits. This masterpiece will hit the shelves in 2015 (sign up here to be notified when it’s available).

When it comes to habits, most of us — well, perhaps not the Rebels — have habits that we’d like to add or drop,

A few weeks ago, I asked the question: What habits most affect your spiritual life and work life? The answers were fascinating.

Now I have a follow-up question: What habits most affect your financial life?

For instance, do you...

--use an automatic savings plan (what I call an "invisible habit")

--use cash instead of credit cards Andy Warhol, who enjoyed the experience of spending, remarked on this distinction: “I don’t like charging. It feels more like buying if you pay with money.” For most people, using cash makes it harder to spend (in a good way).

--spend hours every day on online shopping

--shop only from a list, so you're not tempted to make impulse purchases you'll later regret

--keep a careful record of everything you spend

Those are some examples, to help prompt your thinking.

Some people need habits to help them not spend -- I, as an under-buyer, need habits to help me spend. I remind myself, "If I need it, buy it now." Otherwise I just keep putting off purchases, even when it causes me a lot of inconvenience.

How do habits--both good and bad--affect your financial situation?

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The Four Tendencies explain why we act and why we don’t actOur Tendency shapes every aspect of our behavior, so understanding your Tendency lets us make better decisions, meet deadlines, suffer less stress and burnout, and engage more effectively.

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